Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

February 9, 2023

Consolidated Financial Results
for the Nine Months Ended December 31, 2022
(Under Japanese GAAP)
Company name:
Listing:
Securities code:
URL:
Representative:
Inquiries:
Telephone:

Furukawa Co., Ltd.
Tokyo Stock Exchange5715
https://www.furukawakk.co.jp
Minoru Nakatogawa, President and Representative Director
Akira Mikage, General Manager, Accounting Department+81-3-6636-9502

Scheduled date to file quarterly securities report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results briefing:

February 13, 2023
–
None
None

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the nine months ended December 31, 2022 (from April 1, 2022 to
December 31, 2022)(1) Consolidated operating results (cumulative)(Percentages indicate year-on-year changes.)
Net sales
Nine months ended
December 31, 2022

Millions of yen
156,954

December 31, 2021

147,605

Note: Comprehensive income

Operating profit% Millions of yen
6.3
6,050

% Millions of yen
5.7
6,887

% Millions of yen
2.9
4,495

28.1

89.7

86.9

5,721

For the nine months ended December 31, 2022:
For the nine months ended December 31, 2021:

Basic earnings
per share

Profit attributable toowners of parent

Ordinary profit

Diluted earnings
per share

Nine months ended
December 31, 2022

Yen
116.98

Yen–

December 31, 2021

113.86–

6,694¥ 7,169 million¥ 5,703 million

4,449[25.7%][(47.1)%]%
1.1(20.0)

Furukawa Co., Ltd. (5715)(2) Consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen%

250,749
229,727

104,389
100,075

40.4
42.3

December 31, 2022
March 31, 2022
Reference: Equity
As of December 31, 2022:
As of March 31, 2022:¥ 101,303 million¥ 97,253 million

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen
Yen
Fiscal year ended–
0.00
March 31, 2022
Fiscal year ending–
0.00
March 31, 2023
Fiscal year ending
March 31, 2023
(Forecast)
Note: Revisions to the forecast of cash dividends most recently announced: None

Fiscal year-end

Total

Yen

Yen

Yen

–

50.00

50.00

50.00

50.00

–

3. Forecast of consolidated financial results for the fiscal year ending March 31, 2023 (from April 1, 2022 toMarch 31, 2023)(Percentages indicate year-on-year changes.)
Net sales

Fiscal year ending
March 31, 2023

Operating profit

Profit attributable toowners of parent

Ordinary profit

Basic earnings
per share

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

211,200

6.1

8,000

3.4

8,300

(7.7)

5,400

(16.6)

141.67

Note: Revisions to the forecast of financial results most recently announced: Yes

Furukawa Co., Ltd. (5715)* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
None(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(4) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2022

40,445,568 shares

As of March 31, 2022

40,445,568 shares(ii) Number of treasury shares at the end of the period
As of December 31, 2022

2,329,458 shares

As of March 31, 2022

1,621,936 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2022

38,430,623 shares

Nine months ended December 31, 2021

39,075,545 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants oran audit corporation.
* Proper use of earnings forecasts, and other special matters
Caution concerning forward-looking statements
The forward-looking statements, including earnings outlook, contained in these materials are based on
information currently available to the Company and on certain assumptions deemed to be reasonable by theCompany. The Company makes no warranty as to the achievability of the projections. Actual business and otherresults may differ substantially from the statements herein due to a number of factors.
Please refer to “1. Qualitative Information Regarding Financial Results for the Nine Months Ended December
31, 2022, (3) Information regarding consolidated earnings forecasts and other forward-looking statements” onpage 6 of the attached material for the suppositions that form the assumptions for earnings forecasts and cautions
concerning the use thereof.

Furukawa Co., Ltd. (5715)

Attached Material
Index
1. Qualitative Information Regarding Financial Results for the Nine Months Ended December 31, 2022 .. 2
(1) Explanation of operating results ......................................................................................................... 2(2) Explanation of financial position........................................................................................................ 5(3) Information regarding consolidated earnings forecasts and other forward-looking statements ......... 6
2. Quarterly Consolidated Financial Statements and Significant Notes Thereto .......................................... 7(1) Quarterly consolidated balance sheet ................................................................................................. 7(2) Quarterly consolidated statement of income and consolidated statement of comprehensive
income ................................................................................................................................................ 9
Quarterly consolidated statement of income (cumulative) ................................................................. 9
Quarterly consolidated statement of comprehensive income (cumulative) ...................................... 10(3) Notes to quarterly consolidated financial statements ....................................................................... 11
Notes on going concern assumptions ............................................................................................... 11
Notes on significant changes in the amount of shareholders’ equity ................................................ 11
Segment information ........................................................................................................................ 11
Supplementary Material on Financial Results for the Nine Months Ended December 31, 2022 .................. 13-1-

Furukawa Co., Ltd. (5715)

1. Qualitative Information Regarding Financial Results for the Nine Months Ended
December 31, 2022
Matters concerning forward-looking statements in the text are according to the judgment as of the endof the third quarter of the fiscal year ending March 31, 2023.
(1) Explanation of operating results(Millions of yen)
Nine months ended
December 31, 2021
Net sales

147,605

Nine months ended
December 31, 2022
156,954

Year-on-year change
9,348

Operating profit

5,721

6,050

328

Ordinary profit

6,694

6,887

193

Profit attributable to owners of parent

4,449

4,495

46

The Japanese economy during the first nine months of the fiscal year ending March 31, 2023 (April
1, 2022 to December 31, 2022) was in a post-COVID-19 stage. Under these conditions, corporate
earnings stayed at high levels as the economy gradually recovered, partly thanks to the results ofvarious government policies. On the other hand, as global monetary tightening and other trends
continue, the future remains highly uncertain with increased downside risks, such as the slowdownof overseas economies and soaring raw material prices as a result of the past weakening of the yen
and high resource prices.
Amid this economic environment, in the period under review, the Company group (the “Group”)
recorded net sales of ¥156,954 million (up ¥9,348 million year on year) and operating profit of¥6,050 million (up ¥328 million year on year). While revenue and profit decreased for the
Industrial Machinery segment and UNIC Machinery segment, revenue and profit increased for theRock Drill Machinery segment, which meant an increase in revenue and profit for the Machinery
business as a whole. In the Materials business, revenue and profit increased for the Metals segment,
while revenue decreased and profit increased for the Electronics segment, and revenue increased
and profit decreased for the Chemicals segment, which meant an increase in revenue and profit for
the Materials business as a whole. Meanwhile, the Real Estate segment saw an increase in revenue
and profit. As a result of recording foreign exchange gains of ¥1,736 million in non-operating
income, ordinary profit was ¥6,887 million (up ¥193 million year on year). We recorded a gain onsale of investment securities of ¥362 million under extraordinary income and ¥470 million for
expenses corresponding to the progress of demolition work on the Furukawa Osaka Building under
extraordinary losses. As a result, profit attributable to owners of parent was ¥4,495 million (up ¥46
million year on year).
The net sales and operating profit for the reportable segments are as follows:
Industrial Machinery(Millions of yen)
Nine months ended
December 31, 2021
Net sales
Operating profit

Nine months ended
December 31, 2022

Year-on-year change

12,877

11,728(1,149)

842

363

(479)

Net sales in the Industrial Machinery segment were ¥11,728 million (down ¥1,149 million year onyear), and operating profit was ¥363 million (down ¥479 million year on year). The order balance
as of the end of the third quarter of the fiscal year ending March 31, 2023 increased compared tothe end of the previous fiscal year as a result of highway bridge orders received in bridges andcrushed stone plant orders received in materials-related machinery. Pump plant revenue increased,
revenue for materials-related machinery and bridges decreased, and in large-scale projects, revenue
decreased despite recording net sales corresponding to volumes for a SICON® enclosed hanging
conveyor for construction of the Shin-Kobotoke Tunnel on the Chuo Expressway.
-2-

Furukawa Co., Ltd. (5715)

Rock Drill Machinery(Millions of yen)
Nine months ended
December 31, 2021
Net sales
Operating profit

Nine months ended
December 31, 2022

Year-on-year change

22,71327,780

5,067

628

2,019

1,390

Net sales in the Rock Drill Machinery segment were ¥27,780 million (up ¥5,067 million year onyear), and operating profit was ¥2,019 million (up ¥1,390 million year on year). In Japan, revenue
and profit increased as a result of factors such as increased shipments of large models in hydraulicbreakers, a shift to high-performance models in tunnel drill jumbos, an increase in shipments ofancillary parts, and an increase in the number of custom-ordered machines serviced. Overseas,revenue and profit increased mainly due to the increased deliveries of hydraulic breakers, hydrauliccrawler drills, and ancillary parts to North America, combined with the impact of increased revenue
as a result of the weak yen.
UNIC Machinery(Millions of yen)
Nine months ended
December 31, 2021

Nine months ended
December 31, 2022

Year-on-year change

Net sales

21,577

20,843(734)

Operating profit

1,968

1,112

(856)

Net sales in the UNIC Machinery segment were ¥20,843 million (down ¥734 million year on year),and operating profit was ¥1,112 million (down ¥856 million year on year). In Japan, revenue
decreased mainly due to truck production delays and delays in crane installations owing todecreased production. Also, there was deterioration in the cost price ratio and a decrease in profit
caused by the rise in the cost of raw materials, such as steel. Overseas, we achieved increased
exports of mini crawler cranes to Europe and North America and increased exports of UNIC cranes
to Southeast Asia, Oceania and the Middle East, which, combined with the impact of increased
revenue as a result of the weak yen, resulted in an increase in both revenue and profit.
Machinery Business Total(Millions of yen)
Nine months ended
December 31, 2021

Nine months ended
December 31, 2022

Year-on-year change

Net sales

57,16960,352

3,183

Operating profit

3,439

3,495

55

Total net sales of the Machinery business—consisting of the Industrial Machinery, Rock Drill
Machinery, and UNIC Machinery segments—amounted to ¥60,352 million (up ¥3,183 million year
on year), and operating profit was ¥3,495 million (up ¥55 million year on year).
Metals(Millions of yen)
Nine months ended
December 31, 2021
Net sales
Operating profit-3-

Nine months ended
December 31, 2022

Year-on-year change

76,64380,753

4,109

819

1,164

345

Furukawa Co., Ltd. (5715)

Net sales in the Metals segment were ¥80,753 million (up ¥4,109 million year on year), andoperating profit was ¥1,164 million (up ¥345 million year on year). The overseas market price ofelectrolytic copper started at US$10,247/ton. While it rose to US$10,426/ton on April 5 due to
growing concerns about metal supply shortages as a result of tighter economic sanctions against
Russia following the invasion of Ukraine, the price subsequently declined due to accelerated
monetary tightening measures by major central banks and China’s zero-COVID policy, and by July
15 the price dropped to US$7,000/ton. The price then recovered to the US$8,000/ton level inAugust on the back of the economic indicators of the US and China beating market forecasts, aswell as expectations for additional Chinese economic measures and the easing of the zero-COVID
policy, and subsequently trended around US$7,500-8,500/ton, before ending the period underreview at US$8,387/ton. Despite a decline in sales volume of electrolytic copper, we achieved
increased revenue helped by the increase in sales volume of electrolytic gold coupled with theweaker yen.
Electronics(Millions of yen)
Nine months ended
December 31, 2021
Net sales
Operating profit

Nine months ended
December 31, 2022

Year-on-year change

5,346

5,287

(59)

388

430

42

Net sales in the Electronics segment were ¥5,287 million (down ¥59 million year on year), andoperating profit was ¥430 million (up ¥42 million year on year). In high-purity metallic arsenic, themarket for compound semiconductors, a major application for that material, recently entered aninventory adjustment phase, both in Japan and overseas, but revenue increased as conditions wererelatively stable during the first half of the nine months ended December 31, 2022. In addition,
sales of aluminum nitride ceramics increased due to greater demand for use in thermal management
components and semiconductor manufacturing equipment components. There was a decrease insales of coils due to an impact from the decrease in production of automobiles resulting from thesemiconductor shortage.
Chemicals(Millions of yen)
Nine months ended
December 31, 2021
Net sales
Operating profit

Nine months ended
December 31, 2022

Year-on-year change

5,837

6,396

558

584

414

(169)

Net sales in the Chemicals segment were ¥6,396 million (up ¥558 million year on year), andoperating profit was ¥414 million (down ¥169 million year on year). Sales of cupric oxide were flat
year on year as demand related to personal computers declined and sales volume fell, but unit
prices rose, mainly reflecting higher copper prices. Meanwhile, sales of cuprous oxide increased
due to a recovery in demand for ship bottom paints, a major application for the product, and higher
unit prices, mainly reflecting higher copper prices. On the other hand, operating profit declined due
to higher production costs owing to factors such as higher raw material costs.
Materials Business Total(Millions of yen)
Nine months ended
December 31, 2021

Nine months ended
December 31, 2022

Year-on-year change

Net sales

87,82892,437

4,608

Operating profit

1,792

2,009

217

-4-

Furukawa Co., Ltd. (5715)

The Materials business—consisting of the Metals, Electronics, and Chemicals segments—posted
total net sales of ¥92,437 million (up ¥4,608 million year on year) and operating profit of ¥2,009
million (up ¥217 million year on year).
Real Estate(Millions of yen)
Nine months ended
December 31, 2021
Net sales
Operating profit

Nine months ended
December 31, 2022

Year-on-year change

1,566

1,581

15

543

707

164

Net sales in the Real Estate segment were ¥1,581 million (up ¥15 million year on year), andoperating profit was ¥707 million (up ¥164 million year on year). At the Muromachi Furukawa
Mitsui Building (commercial name: COREDO Muromachi 2), our main facility, in relation tocommercial facilities, although not yet reaching pre-COVID-19 levels, sales are increasing in linewith the easing of behavioral restrictions, and partial exemptions for rent payments given tocommercial tenants were eliminated, which caused an increase in sales. On the other hand, overall
rental revenues remained mostly on a par with the previous fiscal year due to a fall in businessoffice rent revenues.
Others(Millions of yen)
Nine months ended
December 31, 2021
Net sales
Operating profit

Nine months ended
December 31, 2022

Year-on-year change

1,041

2,583

1,541

(9)

(101)

(92)

We run a metal powders business, a casting business, a transportation business, and otherbusinesses. Net sales were ¥2,583 million (up ¥1,541 million year on year), and operating loss was¥101 million (increase in loss of ¥92 million year on year).
(2) Explanation of financial position(Millions of yen)
End of previous fiscal
year

End of the third
quarter of the fiscal
year ending March
31, 2023

Change from end of
previous fiscal year

Total assets

229,727

250,749

21,022

Liabilities

129,652

146,360

16,707(Interest-bearing debt)

65,671

74,645

8,974

100,075

104,389

4,314

Net assets
Equity-to-asset ratio

(%)

42.3

40.4

(1.9)

Total assets as of the end of the quarter under review were ¥250,749 million, an increase of¥21,022 million compared to the end of the previous fiscal year. The main reasons for the increase
were increases in current assets, including cash and deposits, merchandise and finished goods, andraw materials and supplies. Interest-bearing debt (borrowings) was ¥74,645 million, an increase of¥8,974 million compared to the end of the previous fiscal year. Net assets were ¥104,389 million,
an increase of ¥4,314 million compared to the end of the previous fiscal year.

-5-Furukawa Co., Ltd. (5715)(3) Information regarding consolidated earnings forecasts and other forward-looking statements
Comparing the revised forecasts with the previously announced forecasts (announced on May 12,2022), net sales and operating profit have been upwardly revised. In Machinery business overall,the Company expects a decrease in revenue and an increase in profit. This is the result of an
expected decrease in revenue and profit in the Industrial Machinery segment as some sales forlarge-scale projects have been pushed back to the next fiscal year and an expected increase in profit
in Rock Drill Machinery segment due to steady shipments in Japan. In the Metals segment, theCompany is expecting increased revenue and profit based on the financial results for the ninemonths ended December 31, 2022, and in Materials business overall as well, the Company expects
increased revenue and profit.
As a result of the above, the forecasts for ordinary profit and profit attributable to owners of parent
have also been upwardly revised.

-6-Furukawa Co., Ltd. (5715)

2. Quarterly Consolidated Financial Statements and Significant Notes Thereto(1) Quarterly consolidated balance sheet(Millions of yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsMerchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-7-

As of December 31, 2022

14,46917,70728,34430,711

17,205
10,813
20,8184,635(48)
96,238

21,106
12,783
26,583
10,155(57)
118,989

24,051
54,17012,754
90,976376

23,12754,092
12,912
90,132
331

35,8606,997(720)
42,136
133,489229,727

34,237
7,828(769)
41,296
131,760
250,749

Furukawa Co., Ltd. (5715)(Millions of yen)
As of March 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Provisions
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provisions
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-8-

As of December 31, 2022

15,916
9,381
13,504
1,491
142
19,42359,85916,277
11,412
27,953
1,106
90
25,831
82,671

52,16675
2,543
239
14,76869,793
129,652

46,69277
2,631
227
14,06063,688146,360

28,2082
54,557(2,197)80,57028,2082
57,127(3,086)82,252

11,832

11,188

(292)
2,602
35
2,506
16,6832,821
100,075
229,727

296
2,586
2,597
2,382
19,051
3,085
104,389
250,749

Furukawa Co., Ltd. (5715)(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income
Quarterly consolidated statement of income (cumulative)(Millions of yen)
Nine months ended
December 31, 2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Dividend income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Administrative expenses of inactive mountain
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Gain on bargain purchase
Other
Total extraordinary income
Extraordinary losses
Demolition expenses of a rental building
Loss on liquidation of subsidiaries
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent-9-

Nine months ended
December 31, 2022

147,605
128,223
19,382
13,661
5,721

156,954
136,045
20,90914,859
6,050

691
112
1,506
2,311

784
1,736
597
3,118

616

584

－

786

720
1,337
6,694

909
2,280
6,887

74
414
107
596

362
－
12
374

603
－
333
937
6,354
1,827
(103)
1,724
4,630
181
4,449

470
357
388
1,217
6,045
2,016
(661)
1,355
4,690
194
4,495

Furukawa Co., Ltd. (5715)

Quarterly consolidated statement of comprehensive income (cumulative)(Millions of yen)
Nine months ended
December 31, 2021
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests- 10 -

Nine months ended
December 31, 2022

4,630

4,690

842
(409)
401
202

(643)
428
2,302
(123)

36

515

1,073
5,703

2,479
7,169

5,508

6,879

194

290

Furukawa Co., Ltd. (5715)(3) Notes to quarterly consolidated financial statements
Notes on going concern assumptions
Not applicable.
Notes on significant changes in the amount of shareholders’ equity
Not applicable.
Segment information[Segment information]
1. Nine months ended December 31, 2021
(1) Information relating to the amounts of net sales and profit or loss by reportable segment(Millions of yen)
Reportable segment

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers
Total
Segment profit (loss)

Industrial
Machinery

Rock Drill
Machinery

UNIC
Machinery

12,87722,713

21,5772,131

2

15,009842

MetalsElectronics

Chemicals

76,643

5,346

5,837

65

162

0

41

22,715

21,64376,806

5,347

5,879

628

1,968

819

388

584

Eliminations/
corporate(Note 2)

Amountrecorded in thequarterly
consolidated
statement ofincome(Note 3)

Reportable segment

Real Estate

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers
Total
Segment profit (loss)

Others(Note 1)

Total

Total

1,566

146,564

1,041

147,605–

147,605

10

2,414

1,214

3,628

(3,628)–

1,576

148,9782,255

151,234(3,628)

147,605

543

5,774

(9)

5,765

(43)

5,721

Notes: 1. The “Others” category refers to business segments not included in the reportable segments, and includes thetransportation business and other businesses. Furthermore, from the third quarter of the fiscal year ended March
31, 2022, this includes the metal powders business of Yamaishi Metal Co., Ltd., which became a subsidiary on
October 1, 2021.
2. Segment profit (loss) adjustment of ¥(43) million includes eliminations of intersegment transactions of ¥32
million and company-wide expenses not allocated to each reportable segment of ¥(76) million. Company-wide
expenses are mainly expenses related to deserted metal mine assets and deserted coal mine assets that do notbelong to the reportable segments.
3. Segment profit (loss) is adjusted to operating profit in the quarterly consolidated statement of income.

(2) Information relating to impairment losses on non-current assets, goodwill, etc., byreportable segment(Material gain on bargain purchase)
In “Others” for the third quarter of the fiscal year ended March 31, 2022, we recorded gain on bargain
purchase of ¥414 million due to stock acquisition in Yamaishi Metal Co., Ltd., which became a subsidiaryon October 1, 2021, as extraordinary income.

- 11 -

Furukawa Co., Ltd. (5715)

2. Nine months ended December 31, 2022
(1) Information relating to the amounts of net sales and profit or loss by reportable segment(Millions of yen)
Reportable segment

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers
Total
Segment profit (loss)

Industrial
Machinery

Rock Drill
Machinery

UNIC
Machinery

11,72827,78020,8432,067

213,796
363

MetalsElectronics

Chemicals

80,753

5,287

6,396

180

179

–

41

27,78321,02380,933

5,287

6,437

2,019

1,112

1,164

430

414

Eliminations/
corporate(Note 2)

Amountrecorded in thequarterly
consolidated
statement ofincome(Note 3)

Reportable segment

Real Estate

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers
Total
Segment profit (loss)

Others(Note 1)

Total

Total

1,581

154,371

2,583

156,954–

156,954

9

2,480

1,375

3,855

(3,855)–

1,590

156,852

3,958

160,810(3,855)

156,954

707

6,212

(101)

6,110

(60)

6,050

Notes: 1. The “Others” category refers to business segments not included in the reportable segments, and includes themetal powders business, casting business, transportation business and other businesses.
2. Segment profit (loss) adjustment of ¥(60) million includes eliminations of intersegment transactions of ¥25
million and company-wide expenses not allocated to each reportable segment of ¥(85) million. Company-wide
expenses are mainly expenses related to deserted metal mine assets and deserted coal mine assets that do notbelong to the reportable segments.
3. Segment profit (loss) is adjusted to operating profit in the quarterly consolidated statement of income.

- 12 -

Furukawa Co., Ltd. (5715)

Supplementary Material on Financial Results
for the Nine Months Ended December 31, 2022
February 9, 2023
Furukawa Co., Ltd.
Net sales(Yen amounts are rounded down to millions.)
Fiscal year ending March 31, 2023

Nine months
ended
December
31,2021Nine months
ended
December
31,2022Year-on-yearchangePreviously
announced
forecast

Forecast

Year-onyear change

57,16960,352

3,183

82,10080,6003,661

Industrial Machinery segment
Rock Drill Machinery segment

12,87722,713

11,72827,780(1,149)5,067

18,60035,60017,70035,000(23)
4,089

UNIC Machinery segment

21,577

20,843(734)

27,90027,900(405)

Materials business

87,82892,437

4,608

121,800

125,100

6,936

Metals segment

76,64380,753

4,109

106,400

109,800

6,804

Electronics segment
Chemicals segment

5,346
5,837

5,287
6,396

(59)
558

7,000
8,400

6,900
8,400

(371)
503

Real Estate segment

1,566

1,581

15

2,000

2,000

(115)

Others segment

1,041

2,583

1,541

3,600

3,500

1,620

147,605

156,954

9,348

209,500

211,200

12,102Nine months
ended
December
31,2021Nine months
ended
December
31,2022Year-on-yearchangePreviously
announced
forecast

Forecast

Year-onyear change

3,439

3,495

55

5,200

5,500

820

842
628

363
2,019

(479)
1,390

1,500
2,500

1,300
2,800

(96)
1,682

1,968

1,112

(856)

1,200

1,400

(765)

1,792

2,009

217

1,300

2,000

(349)

Metals segment

819

1,164

345

500

1,000

59

Electronics segment
Chemicals segment

388
584

430
414

42
(169)

300
500

500
500

(166)
(243)

543

707

164

700

800

56

Machinery business

Total

Operating profit

Machinery businessIndustrial Machinery segment
Rock Drill Machinery segment
UNIC Machinery segment
Materials business

Real Estate segment
Others segment

Fiscal year ending March 31, 2023

(9)

(101)

(92)

(100)

(200)

(217)

(Subtotal)

5,765

6,110

345

7,100

8,100

310

Eliminations/corporate

(43)

(60)

(16)

(100)

(100)

(45)

5,721

6,050

328

7,000

8,000

265

Nine months
ended
December
31,2021Nine months
ended
December
31,2022Year-on-yearchangePreviously
announced
forecast

Forecast

Year-onyear change

Total
Exchange rate/Copper priceFiscal year ending March 31, 2023

Exchange rate

Yen/$

111.1

136.5

25.4

137.0

135.6

23.2

Copper price

$/mt

9,593

8,425

(1,168)

8,067

8,419

(1,272)- 13 -

Furukawa Co., Ltd. (5715)* Reference Information (the below values are reference values)
1. Industrial Machinery segment order balance
The Industrial Machinery segment mainly provides built-to-order manufacturing, and the order balance as ofthe end of the third quarter is as follows.

Order backlog

As ofDecember 31,2021

As ofDecember 31,2022

Year-on-year change¥8.8 billion¥13.9 billion¥5.0 billion

2. Profit or loss from metal price fluctuations in the Metals segment
Nine months ended
December 31,2021
Operating profit
Of which was due to priceNine months ended
Year-on-year change
December 31,2022¥0.81 billion¥1.16 billion¥0.34 billion

fluctuations
Copper

¥1.23 billion¥1.22 billion¥(0.00) billion[¥1.02 billion][¥0.26 billion][¥(0.76) billion]

Gold[¥0.16 billion][¥0.89 billion][¥0.73 billion]- 14 -